SUMIDA: Company News

Notice of Decision on Candidates for the Board of Directors

February 21st 2024 Press Release

SUMIDA CORPORATION (hereafter “the Company”) would like to announce that the Nomination Committee nominated the following seven (7) candidates for the Board of Directors. The membership as director will take effect subject to the approval of the shareholders at the coming Annual General Meeting of Shareholders scheduled for March 26th, 2024.

1. Candidates for the Board of Directors

Name Current position at the company
Mr. Shigeyuki Yawata Director (chairman of the Board of Directors and the Risk Management Committee, member of the Nomination and Compensation Committee)
Mr. Tatsuo Umemoto Outside director (vice-chairman of the Board of Directors, chairman of the Nomination and Compensation Committee)
Mr. Yan Hok Fan Outside director (member of the Nomination and Compensation Committee
Mr. Ryo Hayakawa Outside director (member of the Audit Committee)
Dr. Albert Kirchmann
(new election)
---
Ms. Sawako Ueno
(new election)
--- 
Mr. Yoshiyuki Honda
(new election)
Representative Executive Officer and CFO (member of the Risk Management Committee)

Note: Mr. Tatsuo Umemoto, Mr. Yan Hok Fan, Mr. Ryo Hayakawa, Dr. Albert Kirchmann and Ms. Sawako Ueno are five (5) candidates as outside directors. After the election as outside directors at the coming Annual General Meeting of Shareholders scheduled for March 26th, 2024, they will be registered as independent directors pursuant to the regulations of the Tokyo Stock Exchange.

2. Brief personal profile of the proposed new candidate for the Board of Directors

1) Dr. Albert Kirchmann (born December 16th, 1956)

 

(Reasons for the election of candidate nominated for outside director and overview of expected roles)

Dr. Albert Kirchmann has accumulated a wealth of international experience over many years including senior leadership roles with responsibility for finance & controlling, business and product planning within the commercial vehicle business of Daimler Truck Holding AG, as well as holding positions including Representative Director and CEO for Mitsubishi Fuso Truck and Bus Corporation.  The Company proposed him as a candidate for outside director because he is expected to oversee and check management given his knowledge and experience as well as the insight he brings in relation to the automobile industry and the European, Japanese and Asian markets as an international manager cultivated throughout his career.  He is a new candidate for outside director.

2) Ms. Sawako Ueno (born August 12th, 1964)

 

(Reasons for the election of candidate nominated for outside director and overview of expected roles)

Ms. Sawako Ueno has been involved in audit, strengthening governance, and transformation of business models, as well as digitization of domestic and foreign corporations over many years as a certified public accountant, and held positions including partner in major audit firms.  In addition, Ms. Ueno has accumulated abundant experience as a Securities Transaction Special Inspector at the Securities and Exchange Surveillance Commission.  The Company proposed her as a candidate for outside director because she is expected to contribute to maintaining and improving the Company’s compliance based on her knowledge and experience cultivated throughout her career.  She is a new candidate for outside director.



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